Nokian Tyres sees lower third quarter profits

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By Liz White, ERJ staff

Nokia, Finland-Nokian Tyres plc has warned that its third quarter profits will be lower than those for the same period last year, and placed the blame for this partly on high existing stocks of winter car tyres at distributors. After high sales of winter tyres in the first half of 2005, sales growth slowed from July to September, Nokian said.

Expenses resulting from the development and start up of its Russian tyre plant near St Petersburg, as well as the setting…

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